So, with the holding companies recently reporting their quarterly results – things were better than expected for Omnicom, surprisingly strong for Publicis and mixed for IPG and Havas – we thought we’d check in with the rest of the industry.

 

Leigh Gammons, chief executive officer, Tangent: “Many agencies were quite optimistic heading into 2024, largely looking for some respite after a challenging 2023. However, consumer behaviors have drastically changed this year through a series of impactful global issues. Elections in major economies, the cost of living crisis, the advancement of AI, and increasing climate extremes have all brought unpredictable changes that can be difficult to navigate.

“This has left brands struggling to place their long-term marketing and technology bets. Agencies that have grown in this period help clients build bulletproof business cases to ensure their platforms and campaigns are as future-ready as possible. Consulting skills, alongside deep technology expertise, which also deliver an AI agenda, are what clients really want. This blend, however, is not a traditional agency mix, which is why we are seeing some fairly stagnant and mixed results, as well as some niche players really flourishing. It seems more than ever that businesses with dated marketing and technology models will struggle to continue trading in 2025 unless they move with these times.”

 

Jonathan Emmins, founder and global CEO, Amplify: “When there is change in the world, from pandemics to the cost of living crisis, brands mirror their consumers and begin questioning their choices. They look for solutions and agencies that better meet their needs, add more value, and deliver better ROI. For those agencies that solve problems and are trying to do things a bit differently, these periods can be ones of growth, with opportunities presenting themselves with both new and existing clients. This was certainly true for Amplify during and exiting the pandemic and again now in H2.

“While, without doubt, some of the smaller and peripheral marketing campaigns have hit the cutting floor, the scale and breadth of the bigger, global, and more 360-integrated pitches we’re witnessing in Q2 and into H2 have been unprecedented, and the competition varied.

“Brands recognize the world moves on and there are multiple routes to solving their brand and business challenges. With a focus on ‘big ideas that transform business through culture,’ we can flex and deliver through multiple channels. Rarely do we pitch against ‘like for like’ agencies. Instead, we are rubbing shoulders with an array of shops with different special powers. Alongside the more traditional above-the-line (ATL) agencies are those with a social, digital, PR or media specialism – often with an entertainment, media or tech owner thrown in for good measure. As Amplify spans and traverses a lot of these capabilities and worlds, this is good news.”

 

Wes Morton, chief executive officer and founder, Creativ Strategies: “Creativ Strategies outlook is growth. Our business pipeline promises 50% to 100% growth over the last half of 2024 into 2025. Our small to midsize media, tech, and advertising clients have all indicated continued upward trajectories. We’ve also expanded our services stack to provide in-demand data science and technology solutions in combination with marketing services. Our full-service offering with an upstart client base will propel us forward for the back half of 2024.

“Analysts have been crying recession since we started the business in 2021. Macroeconomic trends are outside one’s control. What’s important is delivering quality service to a roster of expanding quality clients. Everything else is noise.”

 

Jody Osman, chief growth officer, Propeller Group: “Against a backdrop of significant uncertainty in the first half of this year, many companies had to cut back, or put marketing activity on hold. However, recent updates suggest marketer confidence is coming back. As a result, agencies are starting to feel cautiously optimistic for the second half of the year as this begins to translate into an increased number of meetings, inquiries, and opportunities coming through.

“With a more positive outlook, growth should be back on the agenda (if it wasn’t already). There is still a good runway left for wins this year as we approach a busy trading period and you will be well placed as brands begin planning for 2025 and beyond with greater ambition. It‘s crucial to adopt a proactive approach to your marketing and communications activity to stay on the radar for future opportunities and make sure your proposition remains relevant in an ever-changing marketplace.“

 

Christopher Hughes, chief operating and finance officer, Jaywing: “Earlier concerns about high inflation, low growth, and rising interest rates are starting to ease. The UK now has clearer political direction, while the economy is stabilizing with inflation meeting the 2% target, better-than-expected GDP growth and low unemployment. With the cut in interest rates easing pressure on families and boosting disposable income, consumer confidence should further increase, having hit a two-year high in May.

“This improving economic environment is fostering a slow building of confidence among clients. We are seeing an increase in pitch activity and client growth conversations, showing an increasing feeling of certainty. While we don’t expect a sudden surge in spending, there is a steady increase in optimism anticipated throughout the second half of the year.”

 

James Hoskin, chief finance officer, Clickon: “We are cautiously optimistic for the rest of the year. Key clients have committed to spend and we are confident our Intelligent Virtual Studio model is starting to resonate with more brands. We are on track to deliver double-digit growth in revenue and Ebitda, which in an uncertain macroeconomic market gives us confidence as we start to plan for 2025 and beyond.”

 

This article originally featured on The Drum and is available here.